NSW Sydney Price Correction 2019 - post examples

Not too early, probablt next week onwards. Nearly there.

First week of virus, stock mkt went up. Media said that was safe heaven, people pump money, then 30% crash.... Property has slow response, it is nearly there...

 

Will it have much effect on house prices, maybe just less buyers?

 

4 Attunga Street, Seven Hills, NSW 2147 https://www.realestate.com.au/sold/property-house-nsw-seven+hills-133237554

 

interesting... hold for 3 years and lose $100k plus stamp duty and agent commissions

 

Only a short amount of time it was rented aswell. Who ever bought it probably wanted to build a dual occupancy but probably could make it work.

 

Couldn't see the number stacking in 2017 and even at current prices the margin seems quiet slim on a dual occ

 

The house on the opposite corner no:8 had a da submitted in 2017 for dual occ perhaps that swayed their decision.

 

This is a graph from the QBE Australian Housing Outlook report that showed the dip in Sydney prices in 2018/2019.



The median house price was $983,000 at June quarter 2019. This is 13% below the same quarter from 2018 and 18% below the peak of $1,194,900 at June quarter 2017.

https://www.realestate.com.au/sold/property-house-nsw-bankstown-133705086
Sold for 859k.
Last sold in August 2015 for 820k.

Units around the Bankstown/Lakemba region are all selling for similar prices to 2015/2016.

 

Unit in carlingford sold in 2018 $885k currently forsale at $480k. A whopping $405k discount.

Property Report for 16/17-19 Jenkins Road, Carlingford NSW 2118

 

Ooh. Look who sold it in 2018. Quote from their website: "Top 5 reasons why you'd invest in off the plan property".

 

A 1 bedder there should never have been $885k. I wonder if it was a Chinese buyer just trying to move money out of China?

 

PIA tried to sell in 2017 for $905k wow

 

Wait a sec, theyre STILL trying to sell this?

16/17-19 Jenkins Road, Carlingford NSW 2118 | Domain

 

"Near new"

I also love that they misspelled the name of their agency!

 

Maybe past tense is not something they want to draw attention to?

 

A one bedder apartment and they are highlighting the fact the apartment is in Carlingford West school catchment. So the kids sleep in the 2.2m x 1.8m study? Yeah, nah.

 

Or the building is riddled with defects?

 

It’s minutes walk to Carlingford station! Go to station….

Discover it’s permanently non functioning, no more trains ever!

*It will reopen sometime but only as light rail to Parramatta… and you gotta wait till 2023 for that though. No direct transport to anywhere else.

Parramatta Light Rail | Parramatta

 

Anyway. Stock on market.
2113 is Macquarie Park/North Ryde.
2114 is West Ryde.
2118 is Carlingford
2121 is Epping/North Epping.
2 very different markets, houses vs. apartments.
I had 2 apartments in West Ryde, happy I sold the second one in 2016….
Ps. If your apartment is special, no worries!
It’s the non special ones that may see little growth.

 

Do you happen to have 2122?